South Carolina Statutes
§ 34-9-120 — Prerequisite of retirement of capital notes and debentures.
South Carolina § 34-9-120
JurisdictionSouth Carolina
Title 34BANKING, FINANCIAL INSTITUTIONS AND MONEY
Ch. 9BANK CAPITAL AND CAPITAL STOCK
This text of South Carolina § 34-9-120 (Prerequisite of retirement of capital notes and debentures.) is published on Counsel Stack Legal Research, covering South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
S.C. Code Ann. § 34-9-120 (2026).
Text
Before any such capital notes or debentures are retired or paid by the bank any existing deficiency of its capital, disregarding the notes or debentures to be retired, must be paid in cash, to the end that the sound capital assets shall at least equal the capital stock of the bank.
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Legislative History
HISTORY: 1962 Code SECTION 8-153; 1952 Code SECTION 8-153; 1942 Code SECTION 7836; 1935 (39) 464.
Nearby Sections
12
§ 34-9-100
Issuance of capital notes or debentures.§ 34-9-130
Reserve requirements of state banks.§ 34-9-40
Minimum capital requirements.§ 34-9-70
Repealed.§ 34-9-80
Repealed.Cite This Page — Counsel Stack
Bluebook (online)
South Carolina § 34-9-120, Counsel Stack Legal Research, https://law.counselstack.com/statute/sc/9/34-9-120.